Acquisitions and Expansions - The company acquired Enovum Data Centers Corp on October 11, 2024, which includes a fully operational 4 MW Tier-3 data center hosting over 5,000 GPUs for 14 customers[234]. - A new 5 MW Tier-3 data center expansion project (MTL-2) near Montreal was acquired for CAD $33.5 million (approximately USD $23.3 million), with an expected investment of USD $19.3 million to meet Tier-3 standards, operational by Q3 2025[235]. - A lease for a new data center site (MTL-3) in Saint-Jerome, Quebec, was executed with a 20-year term and development costs expected to total approximately USD $40 million, targeting completion by late Q3 2025[237]. Agreements and Contracts - The company entered a five-year colocation agreement with Cerebras Systems to provide 5 MW of data center infrastructure, expected to be fulfilled at MTL-3 or another site[236]. - The company signed a binding term sheet with a customer for 2,048 GPUs, targeting total revenue of approximately $150 million over three years, or about $50 million annually[242]. - A Master Services and Lease Agreement was finalized for 2,048 GPUs, with an estimated total contract value exceeding $50 million in annualized revenue[243]. - A new agreement was entered to supply an additional 464 GPUs for $15 million of annualized revenue, with a deferred start date until August 20, 2025[245]. - A Master Service Agreement with Boosteroid Inc. was executed for 489 GPUs, projected to generate approximately $7.9 million in contracted value, with potential expansion up to 50,000 servers worth approximately $700 million[246]. - The Company finalized a service agreement to supply cloud services worth more than $50 million in annualized revenues, with an initial contract for 2,048 GPUs[371]. - A Master Services Agreement with DNA Fund includes a minimum purchase commitment of 32 GPUs and a total of 576 H200 GPUs over a 25-month period, representing an aggregate revenue opportunity of approximately $20.2 million[375]. Mining Operations - The company commenced its bitcoin mining operations in February 2020 and has focused on accumulating digital assets for potential sale or exchange[257]. - The company has chosen to acquire miners on the spot market to mitigate long delivery lead times, aiming to mine bitcoins quickly given their fixed supply[258]. - The company deployed an additional 1,441 miners during Q1 2025, resulting in an active hash rate of approximately 1.5 EH/s[264]. - The total contracted hosting capacity with Coinmint increased to approximately 46 MW as of January 2024[270]. - The company entered into a Master Mining Services Agreement with Blockbreakers for 4 MW of additional mining capacity, bringing total contracted capacity with them to approximately 9 MW[266]. - The company has secured a strategic co-location agreement with Soluna Computing for up to 6.6 MW, with a profit share of 35%[280]. - The company has a co-mining agreement with Digihost, providing approximately 6.0 MW of capacity, with Digihost entitled to 30% of the net profit[273]. - The company has a loan agreement with GreenBlocks for up to $5 million to finance miners with a capacity of 8.25 MW in Iceland[274]. - The company has a total contracted hosting capacity with Soluna of approximately 17.6 MW as of March 31, 2025[281]. - The company has entered into hosting agreements with A.R.T. Digital Holdings for a total capacity of 19 MW, with profit shares ranging from 19.75% to 40%[283]. Financial Performance - For the three months ended March 31, 2025, the company recognized revenue of $7.8 million from bitcoin mining services, a decrease of $14.1 million or 64.5% compared to $21.9 million for the same period in 2024[294][303]. - Cloud services revenue increased by $6.8 million, or 83.9%, to $14.8 million for the three months ended March 31, 2025, compared to $8.1 million for the same period in 2024[296]. - The company generated $1.6 million in revenue from colocation services for the three months ended March 31, 2025, compared to $0 for the same period in 2024[299]. - The net loss for the three months ended March 31, 2025, was $57.7 million, compared to a net income of $50.1 million for the same period in 2024, reflecting a variance of $107.8 million[294]. - The company reported a net loss of $57.7 million for the three months ended March 31, 2025, a change of $107.8 million from a net income of $50.1 million in the same period of 2024[334]. - Adjusted EBITDA for the three months ended March 31, 2025, was $(44.5) million, compared to $58.5 million for the same period in 2024, indicating a significant decline in operational performance[361]. - The company incurred a loss of $49.2 million on digital assets for the three months ended March 31, 2025, compared to a gain of $45.7 million in the same period of 2024[331]. Asset Management - The company's total assets decreased by $52,999,090 to $485,248,574 as of March 31, 2025, compared to $538,247,664 as of December 31, 2024[336]. - The company's cash and cash equivalents decreased by $37,646,324 to $57,555,011 as of March 31, 2025, compared to $95,201,335 as of December 31, 2024[336]. - The balance of accounts receivable decreased to $2.5 million as of March 31, 2025, down from $5.3 million as of December 31, 2024, attributed to paid invoices from customers[339]. - The balance of digital assets decreased by $82.3 million to $XX million as of March 31, 2025, primarily due to exchanges of bitcoins into cash and USDC, and a change in fair value of $49.2 million[342]. - The current and non-current portion of deferred revenue decreased to $21.2 million and $0.1 million, respectively, as of March 31, 2025, down from $30.8 million and $0.1 million as of December 31, 2024, reflecting a recognition of $11.1 million in revenue[355]. - Working capital decreased to $139.8 million as of March 31, 2025, from $241.8 million as of December 31, 2024, reflecting a reduction in liquidity[362]. Operational Changes and Future Outlook - The company anticipates long-term operational improvements despite potential short-term decreases in mining output due to strategic changes in hosting partnerships[261]. - The ability to generate revenue from digital asset production is subject to various risks, including regulatory and market volatility[377]. - The company may need to raise additional capital to fund operations and pursue its business strategy, which could involve risks and uncertainties[376][377]. - The company expects to continue to opportunistically invest in miners to increase its hash rate capacity[304]. Ethereum Operations - The company initiated Ethereum staking operations in the fourth quarter of 2022 and has since transitioned to partnerships with various service providers for staking activities[289][306]. - The company has ceased all liquid staking activities as of the first quarter of 2024, reclaiming all staked Ethereum[308]. - For the three months ended March 31, 2025, the company earned 211.0 ETH in native staking, resulting in revenues of $560,641, an increase of $239,398 or 74.5% from $321,243 in the same period of 2024[310][312]. - The company's revenues from ETH liquid staking decreased by $4,503, or 100%, to $nil due to the termination of liquid staking activities in the first quarter of 2024[313]. - The cost of revenue from the ETH staking business increased by $16,135, or 98%, driven by an increase in staked ETH from 3,008 ETH to 21,568 ETH[326].

Company Performance - Bit Digital, Inc. (BTBT) closed at $2.08, showing no change from the previous day, while outperforming the S&P 500's daily loss of 0.07% [1] - The company's shares increased by 20.23% over the past month, surpassing the Business Services sector's gain of 16.17% and the S&P 500's gain of 13.74% [1] Upcoming Earnings - The upcoming earnings report for Bit Digital, Inc. is scheduled for May 15, 2025, with an expected EPS of -$0.05, reflecting a 266.67% decline compared to the same quarter last year [2] - Revenue is projected at $26.21 million, indicating a 13.46% decrease from the same quarter last year [2] Full Year Estimates - For the full year, analysts expect earnings of -$0.04 per share and revenue of $158.34 million, representing changes of +85.71% and +46.54% respectively from the previous year [3] Analyst Estimates - Recent changes to analyst estimates for Bit Digital, Inc. are important for investors, as positive revisions can indicate a favorable business outlook [4] - The Zacks Rank system, which reflects these estimate changes, provides actionable insights for investors [5] Zacks Rank and Industry Performance - Bit Digital, Inc. currently holds a Zacks Rank of 3 (Hold), with a recent consensus EPS projection moving 100% lower [6] - The Technology Services industry, part of the Business Services sector, ranks in the top 26% of all industries, indicating strong performance potential [7]

Core Viewpoint - Bit Digital, Inc. is set to release its First Quarter 2025 results on May 15, 2025, with a follow-up conference call on May 16, 2025, to discuss the results [1][2]. Company Overview - Bit Digital, Inc. operates as a global platform for high-performance computing (HPC) infrastructure and digital asset production, headquartered in New York City [3]. - The company's HPC business functions under the WhiteFiber Inc. brand, with operations located in the US, Canada, and Iceland [3]. Upcoming Events - The earnings call will be accessible via a live webcast and conference call, scheduled for May 16, 2025, at 10:00 a.m. ET [1][2]. - A press release detailing the First Quarter 2025 earnings will be issued prior to the conference call and made available on the company's website [2].

Company Performance - Bit Digital, Inc. (BTBT) closed at $2.11, reflecting a +1.93% change from the previous session, outperforming the S&P 500's gain of 1.47% [1] - The stock has increased by 5.08% over the past month, contrasting with the Business Services sector's decline of 1.38% and the S&P 500's loss of 0.47% [1] Earnings Expectations - The upcoming earnings report is expected to show an EPS of -$0.05, a decline of 266.67% from the same quarter last year [2] - Revenue is forecasted to be $26.21 million, indicating a 13.46% decrease compared to the prior year [2] - Full-year estimates predict earnings of -$0.04 per share and revenue of $158.34 million, representing year-over-year increases of +85.71% and +46.54%, respectively [3] Analyst Estimates and Rankings - Recent adjustments to analyst estimates for Bit Digital, Inc. are crucial as they reflect changing business trends, with positive revisions indicating a favorable outlook [4] - The Zacks Rank system, which assesses estimate changes, currently ranks Bit Digital, Inc. at 3 (Hold), following a 100% fall in the Zacks Consensus EPS estimate over the past month [6] Industry Context - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 82, placing it in the top 34% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Core Viewpoint - Bit Digital, Inc. (BTBT) has been trending in stock searches, indicating potential interest and volatility in its stock performance due to recent developments and earnings estimates [1][2]. Earnings Estimate Revisions - For the current quarter, Bit Digital is projected to report a loss of $0.05 per share, reflecting a significant decline of -266.7% year-over-year. The Zacks Consensus Estimate has increased by +40% in the last 30 days [5]. - The consensus earnings estimate for the current fiscal year is -$0.04, showing an increase of +85.7% year-over-year, but has changed by -100% over the past month [5]. - For the next fiscal year, the consensus earnings estimate is $0.18, indicating a substantial increase of +525% compared to the previous year, although this estimate has decreased by -28.6% recently [6]. Revenue Growth Projections - The consensus sales estimate for the current quarter is $26.21 million, which represents a year-over-year decline of -13.5%. For the current and next fiscal years, the sales estimates are $158.34 million and $249.1 million, indicating increases of +46.5% and +57.3%, respectively [11]. Last Reported Results and Surprise History - In the last reported quarter, Bit Digital achieved revenues of $26.1 million, a year-over-year increase of +62.6%. The EPS was -$0.11, compared to -$0.02 a year ago. The revenue exceeded the Zacks Consensus Estimate by +5.21%, while the EPS fell short by -175% [12]. - Over the last four quarters, Bit Digital has surpassed consensus EPS estimates twice and revenue estimates three times [13]. Valuation - Bit Digital is graded B on the Zacks Value Style Score, indicating that it is trading at a discount compared to its peers. This assessment is based on various valuation metrics [17].

Company Performance - Bit Digital, Inc. (BTBT) closed at $2.11, reflecting a +0.96% change from the previous day, outperforming the S&P 500's gain of 0.06% [1] - The stock has decreased by 0.48% over the past month, contributing to a 4.91% loss in the Business Services sector and a 4.29% loss in the S&P 500 [1] Upcoming Earnings - The upcoming earnings release is highly anticipated, with projected EPS at -$0.06, indicating a 300% decline compared to the same quarter last year [2] - Revenue is estimated at $24.18 million, representing a 20.16% decrease from the equivalent quarter last year [2] Full Year Projections - For the full year, earnings are projected at -$0.02 per share and revenue at $157.96 million, showing increases of +92.86% and +46.19% respectively from the previous year [3] - Recent analyst estimate revisions suggest a positive outlook for the company's business [3] Industry Context - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 58, placing it in the top 24% of over 250 industries [6] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks, indicating that top-rated industries outperform lower-rated ones by a factor of 2 to 1 [6]

Group 1 - Bit Digital, Inc. (BTBT) has an average brokerage recommendation (ABR) of 1.00, indicating a Strong Buy based on five brokerage firms' recommendations, all of which are Strong Buy [2][5] - Despite the Strong Buy recommendation, relying solely on brokerage recommendations may not be advisable as studies show they often fail to guide investors effectively [5][10] - Brokerage analysts tend to exhibit a strong positive bias in their ratings, with a ratio of five "Strong Buy" recommendations for every "Strong Sell" [6][10] Group 2 - The Zacks Rank, a proprietary stock rating tool, is a more reliable indicator of near-term price performance, classifying stocks from Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell) [8][11] - The Zacks Rank is based on earnings estimate revisions, which are strongly correlated with near-term stock price movements, unlike the ABR which may not be up-to-date [11][12] - For Bit Digital, the Zacks Consensus Estimate for the current year remains unchanged at -$0.02, leading to a Zacks Rank 3 (Hold), suggesting caution despite the Buy-equivalent ABR [13][14]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Company Performance - Bit Digital, Inc. (BTBT) closed at $1.85, showing no movement from the previous day, underperforming compared to the S&P 500's gain of 0.79% [1] - Over the past month, shares of Bit Digital, Inc. have decreased by 24.18%, while the Business Services sector and S&P 500 have lost 2.73% and 3.56%, respectively [1] Earnings Forecast - The upcoming earnings report for Bit Digital, Inc. is expected to show an EPS of -$0.06, reflecting a 300% decline from the same quarter last year [2] - Revenue is projected at $24.18 million, down 20.16% from the prior-year quarter [2] Full Year Estimates - For the full year, earnings are estimated at -$0.02 per share and revenue at $157.96 million, indicating increases of 92.86% and 46.19% from the previous year [3] - Recent changes in analyst estimates suggest evolving short-term business trends, with positive revisions indicating analysts' confidence in the company's performance [3] Analyst Ratings - The Zacks Rank system, which correlates estimate changes with stock prices, currently ranks Bit Digital, Inc. at 3 (Hold) [5] - Over the past month, the Zacks Consensus EPS estimate has decreased by 153.85% [5] Industry Context - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 65, placing it in the top 27% of over 250 industries [6] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered by the team includes insights into sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]